Chandigarh: Punjab Backward Classes Land Development and Finance Corporation (BACKFINCO) provides low-interest loans to individuals belonging to backward classes, economically weaker sections, and minority communities in the state. These loans are meant to help them establish self-employment ventures and to assist students in pursuing higher education in India and abroad. Disclosing this here today Shri Sandeep Saini, Chairman of BACKFINCO, stated that the Punjab Government is making constant efforts for the upliftment of backward classes, minority communities, and economically weaker sections.
Saini further informed that under the National Minorities Development (NMD) Scheme, during the financial year 2025–26, BACKFINCO has set a target of providing loans worth ₹26.12 crore to 1,047 beneficiaries from minority communities in Punjab (Sikh, Muslim, Christian, Parsi, Buddhist, and Jain).During the period from April 1, 2025, to November 30, 2025, loans totaling ₹7.22 crore have been distributed to 219 beneficiaries under this scheme. In addition, under the Direct Loan Scheme, loans worth ₹35.80 lakh have been provided to 18 beneficiaries belonging to economically weaker sections.Thus, during the current financial year, a total of ₹7.58 crore in loans have been disbursed to 237 beneficiaries under both loan schemes for setting up self-employment ventures. As of December 19, 2025, loans worth ₹4.51 crore have been approved for 129 beneficiaries under the NMD Scheme.
